Cactus reported second-quarter 2026 results with revenue of $449.5 million and net income of $61.4 million, producing diluted earnings per Class A share of $0.70. The company reported adjusted net income of $75.1 million and diluted adjusted EPS of $0.93, and generated $104.6 million of cash flow from operations in the quarter. Cactus ended the period with $365.8 million of cash and no bank debt outstanding as of June 30, 2026.

Financial Highlights

  • Revenue: $449.5 million for the three months ended June 30, 2026.
  • Operating income: $83.6 million; operating income margin: 18.6%.
  • Net income: $61.4 million; net income margin: 13.7%.
  • Adjusted net income: $75.1 million; diluted earnings per share, as adjusted: $0.93; adjusted net income margin: 16.7%.
  • Adjusted EBITDA: $132.8 million; Adjusted EBITDA margin: 29.5%; cash flow from operations: $104.6 million.

Business Highlights

  • Segment performance: Pressure Control revenues benefited from increased Middle East shipments and Cactus International backlog execution; Spoolable Technologies saw higher domestic activity and sequential shipment growth.
  • Backlog (remaining performance obligations) closed the quarter at $455.8 million, primarily related to Cactus International operations.
  • Capital deployment: net capex of $15.6 million in Q2; full-year 2026 capex guidance increased to $55–$65 million to support capacity investments in the Baytown Spoolable Technologies manufacturing facility and potential Eastern hemisphere investments.
  • Liquidity and balance sheet: $365.8 million of cash and cash equivalents (including $92.5 million retained for restructuring activities related to the Cactus International acquisition), no bank debt outstanding, and $223.7 million available on the revolving credit facility as of June 30, 2026.
  • Corporate actions and governance: Board approved a 7% increase in the quarterly dividend to $0.15 per Class A share in July 2026 and expanded the board with the appointment of Joseph Elkhoury to add international oilfield operating experience.

Original SEC Filing:

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